SolGold (LON:SOLG) Trading Up 14% - Here's What Happened

Key Points

• SolGold Plc's stock surged 14% in mid-day trading, reaching a high of GBX 13.54 ($0.18) after trading 38,991,313 shares, significantly up from the average daily volume.
• The company reported a debt-to-equity ratio of 78.66 and a market capitalization of £483.05 million, with a PE ratio of -7.88.
• Insider trading activity includes Paul Smith purchasing 9,587 shares at an average price of GBX 10 ($0.13), indicating strong insider confidence as they own 52.84% of the stock.

SolGold Plc (LON:SOLG - Get Free Report) shares rose 14% on Monday . The company traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). Approximately 38,991,313 shares traded hands during trading, an increase of 588% from the average daily volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Trading Up 3.3%

The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The firm has a market capitalization of £489.05 million, a P/E ratio of -7.98 and a beta of 1.20. The business's 50-day moving average is GBX 7.63 and its 200 day moving average is GBX 7.18.

Insiders Place Their Bets

In other news, insider Paul Smith acquired 9,587 shares of the stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, for a total transaction of £958.70 ($1,274.70). Insiders have bought a total of 185,842 shares of company stock worth $1,858,420 over the last three months. Corporate insiders own 52.84% of the company's stock.

SolGold Company Profile

SolGold is a leading exploration company focussed on the discovery, definition and development of world-class copper-gold deposits. SolGold has a first mover advantage in Ecuador, a highly prospective yet under-explored section of the Andean Copper Belt, home of multiple Tier 1 copper and gold projects and half of the world's copper resources.